Which of the following describes 'nonconcurrency' in terms of insurance policies?

Nonconcurrency refers to a situation in which different insurance policies covering the same property provide varying levels of coverage. This means that the policies do not match in terms of the extent of coverage or the terms under which a loss would be compensated.

When multiple policies are issued for the same asset but offer different amounts or types of protection, it can create gaps in coverage or lead to complexities during the adjustment of claims. Understanding nonconcurrency is essential for adjusters, as it affects how claims are managed and how much compensation the insured might receive for a loss.